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- Title
Dynamics of the U.S.-Canada Softwood Lumber Trade: Market and Welfare Effects of the 2006 Softwood Lumber Agreement.
- Authors
Jungho Baek
- Abstract
This article examines the effects of macroeconomic variables (i.e., housing starts, disposable income, and the exchange rate), market variables (i.e., lumber price and wage rate) and the 2006 Softwood Lumber Agreement (SLA06) on U.S. lumber imports from Canada. It also looks at the welfare consequences of the SLA06. Results suggest that macroeconomic variables are more important than lumber price in determining the bilateral trade in softwood lumber. It is also found that, although the SLA06 has a significant negative effect on lumber imports from Canada, the market and welfare impacts of the trade restriction are moderate.
- Subjects
CANADA; UNITED States; SOFTWOOD; LUMBER industry; CONTRACTS; FOREIGN exchange rates; HOUSING starts
- Publication
Estey Centre Journal of International Law & Trade Policy, 2011, Vol 12, Issue 2, p69
- ISSN
1496-5208
- Publication type
Article